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Shiba Inu (SHIB) is currently consolidating following a massive rally earlier this month, which saw the token rise to $0.00003046 (on Binance). However, momentum diminished as SHIB fell to levels below $0.00002303. As Bitcoin surges toward $100,000, SHIB investors urged the development team to implement strategies that could spur a significant rally.
Key Motivators for Shiba Inu Price
In response to these calls, Chitoshi Kusama, lead developer of the Shiba Inu ecosystem, addressed the community’s concerns by highlighting SHIB’s accomplishments and catalysts that will boost SHIB token evaluation. Emphasizing the importance of the token in the Ethereum blockchain, Kusama first male Via X: “‘Hey man, send Shep to the moon.’
Addressing the idea that SHIB is just a get-rich-quick scheme, one user commented: “What people don’t get is that this token is about careers and not just getting-rich-quick.” Kusama agreed, answering that superior technology and adoption are the main drivers of the Shiba Inu Token price: “Because through function we change the world and wagmi. No leader. Lots of technology. Unparalleled insight into the entirety of crypto. What more could you ask for?” Kusama wrote.
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The conversation also turned to SHIB: The Metaverse, a project expected to lead to broader adoption of the Shiba Inu ecosystem. When asked about its release, Kusama revealed: “I expect the MV to be updated in Shib Mag soon :)”
SHIB: The Metaverse is envisioned as a virtual world within the SHIB ecosystem, providing a digital playground where users can socialize, play, and trade digital assets. This metaverse aims to integrate the Shiba Inu community, tokens, and services like ShibaSwap into a cohesive online environment. Users will be able to purchase virtual land, create unique experiences, and possibly mirror real-life businesses.
Kusama also addressed concerns about competition from other tokens. When one user asked about the competition between Dogecoin (DOGE) and BONK, Kusama confirmed that the SHIB ecosystem would be enterprise-level: “I hope all the memes will do well so wagmi can. But they’re playing ‘I declare war’ and I’m in the enterprise playing multi-level chess With the shields raised reading “Check Klingon,” he said #kipla.
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More confirmation on upcoming developments, Kusama Announce Via X: “Analysis: Shep is still king! Bones are key. The leash is strong. The cure is coming.” He added shortly after: “We note that TREAT released by Shib Core is not yet available.”
The TREAT token, designed as an access key to advanced features within the Shiba Inu ecosystem, is scheduled to launch soon. This token will complement the existing SHIB, BONE, and LEASH tokens, each serving distinct roles within the ecosystem. While LEASH focuses on exclusivity and BONE on technology, TREAT will unlock advanced functionality, enriching the overall user experience.
In July, Kusama explained: “As you know, Shib is home to a variety of tokens, including Shib, Bone, Leash, and our upcoming unreleased token: TREAT. Each token has its own utility and management, and TREAT is the access token to all the advanced features of our system.” , unlike Leash, which is about the Singularity, or Bone, which is focused on technology.
In reference to another possible catalyst, Kusama Retweeted Posted by artchick.eth (@digitalarchick), who predicted: “Memecoin ETF within 10 months.” Kusama commented: “I didn’t say that…. But I did it.
The potential for a US-based Memecoin ETF is huge. Similar to Bitcoin and Ethereum ETFs in the US, the Memecoin ETF could attract significant inflows from investors who are currently unable to access the Memecoin markets. Given its status as the second-largest memocoin by market cap, the Shiba Inu would be a prime candidate for listing.
At press time, SHIB was trading at $0.00002502.
Featured image from Shutterstock, chart from TradingView.com